ACCOTAX - Accountants & Tax Consultants
Welcome to ACCOTAX, a firm of Chartered Accountants in London. The firm was established in 2009 and has helped thousands of businesses and individuals...See More
OVAL ACCOUNTANTS LTD
Your Bookkeeping, Accounting And Self Assessment Experts, Here To Bring You The Highest Standard Of Service.
Cruse+Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
Owadally & Kings Partnership
At O&K we aspire to be one of the most forward thinking accountancy firms in Croydon. Our dedicated in-house team, and external specialists, based in ...See More
Cruse + Burke
As one of the leading accountants in Croydon, we are forward thinking in the way we approach your business requirements and the way we give you except...See More
APRC Accountants
We are a forward thinking firm of Chartered, Certified Public Accountants & Tax Advisers and Chartered Payroll Professionals established in 2005 in th...See More
Marden & Co Accountants Ltd
We are a two partner accountancy practice based in Epsom, serving Sutton, Banstead, Reigate, Dorking & across Surrey. We provide professional accounta...See More
Taxaccolega Chartered Accountants & Tax Advisers
As one of the brightest firms of chartered accountants in London, UK, Taxaccolega, based in Croydon, combines the passion and creative thinking of a s...See More
EFJ CONSULTING LTD
We are the firm of Chartered Certified Accountants based in London. We provide professional and practical help with all aspects of accountancy and tax...See More
Central London Accountants
We are proud partners of leading software provider firm Xero, and we can help if you require Xero Accountants in London, Xero training, or need remote...See More
Cheap - Accountants
As a small business owner, your main focus is to work on your business strengths to help it grow, and you can’t just achieve it through juggling every...See More
London Accountants
We have been providing a range of tailored accounting and taxation services to individuals as well as small and medium sized businesses. See More
Abu Umar & Co.
Welcome to Abu Umar & Co. We are a small Accounting firm, based in London, We specialize in dealing with all accounting problems. As we have been o...See More
Tax Cruncher
Tax Cruncher is an online accounting &Tax consulting firm serving clients nationwide. Our aim is to help SMEs to grow their business by crunching thei...See More
Coman And Co Ltd
Chartered Tax Advisers and Chartered Certified Accountants, we offer assistance with tax return compliance and specialist tax consultancy services for...See More
Accounting Made Simple
Accounting Made Simple is a tech-savvy accountancy and bookkeeping organization located in London which assists clients to ru...See More
Frequently asked questions
What is the difference between creditors voluntary liquidation and compulsory liquidation?
Creditors voluntary liquidation (CVL) is initiated by the company's directors when they determine the business is insolvent and cannot continue trading. Directors call a shareholder meeting to pass a resolution for winding up, and then creditors meet to approve the liquidator's appointment. Compulsory liquidation, on the other hand, is a court-ordered process usually started by a creditor who files a winding-up petition because the company owes them money. In compulsory liquidation, the court appoints an official receiver or liquidator to handle the process.
How long does a company liquidation take in Mayfield?
The duration of a liquidation process varies depending on the complexity of the company's affairs. A straightforward creditors voluntary liquidation typically takes between 6 to 12 months to complete, provided all required documentation is in order and there are no complex asset recovery issues. However, cases involving disputes, incomplete records, or substantial asset realization may take longer. Our liquidators aim to expedite the process while ensuring thorough compliance and maximum creditor returns.
Can directors continue trading during liquidation?
No, once a company enters liquidation, the liquidator takes control of the company's affairs. Directors' powers cease, and they cannot continue trading or making decisions on behalf of the company. However, the liquidator may allow limited trading to complete existing contracts or sell stock at a better value, but this is at the liquidator's discretion and under strict supervision. Directors must cooperate fully with the liquidator and provide all relevant records and information.
What are the legal obligations of directors when their company becomes insolvent?
Directors have a legal duty to act in the best interests of creditors once they know or suspect the company is insolvent. They must not take on new credit while insolvent, must not prefer one creditor over another, and must not dispose of company assets at undervalue. Directors should seek professional advice immediately and consider filing for insolvency proceedings to avoid wrongful trading claims. Our liquidators can advise on your specific duties and help you avoid personal liability.
Will I be personally liable for company debts after liquidation?
In most cases, directors are not personally liable for company debts because limited liability protects them. However, personal liability can arise if you have given personal guarantees for business loans, engaged in fraudulent or wrongful trading, or misused company funds. The liquidator may also pursue recovery of assets if you have taken excessive director's loans or made preferential payments to family members. Our team will review your situation and explain any potential risks.
How much does it cost to appoint a company liquidator in Mayfield?
The cost of liquidation depends on the complexity and size of the company. For creditors voluntary liquidation, the liquidator's fees are typically paid from the company's assets, but if there are insufficient assets, creditors may agree to a fee arrangement. Our firm offers transparent pricing and will provide a detailed quote before you proceed. We also offer free initial consultations to assess your financial position and discuss cost-effective options.
About Accounting Firms
AccountingFirms.co.uk is the UK's dedicated accountant comparison website, helping individuals, sole traders, landlords, startups, and SMEs instantly compare accountancy and tax fees from trusted UK accounting firms.
Find and connect with qualified accountants, tax advisers, bookkeepers, and business advisers using advanced search filters, verified profiles, and genuine reviews aggregated from Google, Trustpilot, Yelp, and other trusted platforms.
Over 26,000+ UK Accountants in One Place
Explore the UK's largest independent directory of accountants regulated by professional bodies including ICAEW, ACCA, AAT, CIMA, CIPFA, AIA, IFA, and other recognised UK accountancy bodies.
Affordable Online Accounting Services
Buy fixed-fee accounting packages online with confidence. Services are delivered by experienced UK-qualified accountants and tax advisers, covering:
A Marketplace for Accountants
For accounting firms, AccountingFirms.co.uk is more than a directory. It's a powerful lead generation platform, accountant marketplace, and business growth hub, helping practices attract new clients, increase online visibility, generate qualified leads, and win more accounting and taxation work across the UK.